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香港加密货币
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📢Hong Kong strengthens cryptocurrency regulation: OTC trading may be regulated by the SFC🔍 Crypto enthusiasts, pay attention, Hong Kong may soon implement stricter regulation of over-the-counter (OTC) cryptocurrency trading. According to the South China Morning Post, the Securities and Futures Commission (SFC) of Hong Kong is considering working with the Hong Kong Customs and Excise Department (C&ED) to jointly strengthen the supervision of OTC transactions. OTC transactions usually refer to private transactions conducted directly between large companies, which often bypass public exchanges. But now, the SFC may intervene, which will help provide a clearer regulatory framework for the cryptocurrency industry. Why do this? One reason is that there have been some major financial losses and fraud in the cryptocurrency industry recently, especially the collapse of Japanese exchanges, which has raised concerns about the role of OTC transactions by regulators. These transactions are often operated through physical stores, and many are associated with fraudulent activities, so stricter supervision is particularly important. SFC representatives said that they are working closely with the government and other regulators to establish a robust, clear and consistent regulatory environment to promote the sustainable and responsible development of Hong Kong's virtual asset industry. Although the need for regulation is generally supported, some industry insiders are still concerned that the specific implementation of regulation may bring confusion, as the responsibilities of the SFC and Customs may overlap. 🗣️ Conclusion: Hong Kong has recently strengthened its supervision of over-the-counter (OTC) cryptocurrency transactions. Although this policy may cause some volatility in the market in the short term, it will help reduce fraud and illegal transactions in the long run, thereby enhancing investor confidence. For investors, this is a sign that a safer and more compliant market environment is taking shape; for industry participants, it means that they need to adhere to higher compliance standards and improve their risk management capabilities. It is believed that with the continuous improvement of the regulatory system, Hong Kong's cryptocurrency market is expected to develop in a more stable and sustainable direction. 💬 What do you think of Hong Kong's possible strengthening of supervision of OTC cryptocurrency transactions? See you in the comments section! #香港加密货币 #OTC交易 #监管加强 #金融市场 #加密货币监管
📢Hong Kong strengthens cryptocurrency regulation: OTC trading may be regulated by the SFC🔍

Crypto enthusiasts, pay attention, Hong Kong may soon implement stricter regulation of over-the-counter (OTC) cryptocurrency trading.

According to the South China Morning Post, the Securities and Futures Commission (SFC) of Hong Kong is considering working with the Hong Kong Customs and Excise Department (C&ED) to jointly strengthen the supervision of OTC transactions.

OTC transactions usually refer to private transactions conducted directly between large companies, which often bypass public exchanges. But now, the SFC may intervene, which will help provide a clearer regulatory framework for the cryptocurrency industry.

Why do this? One reason is that there have been some major financial losses and fraud in the cryptocurrency industry recently, especially the collapse of Japanese exchanges, which has raised concerns about the role of OTC transactions by regulators. These transactions are often operated through physical stores, and many are associated with fraudulent activities, so stricter supervision is particularly important.

SFC representatives said that they are working closely with the government and other regulators to establish a robust, clear and consistent regulatory environment to promote the sustainable and responsible development of Hong Kong's virtual asset industry.

Although the need for regulation is generally supported, some industry insiders are still concerned that the specific implementation of regulation may bring confusion, as the responsibilities of the SFC and Customs may overlap.

🗣️ Conclusion:

Hong Kong has recently strengthened its supervision of over-the-counter (OTC) cryptocurrency transactions. Although this policy may cause some volatility in the market in the short term, it will help reduce fraud and illegal transactions in the long run, thereby enhancing investor confidence.

For investors, this is a sign that a safer and more compliant market environment is taking shape; for industry participants, it means that they need to adhere to higher compliance standards and improve their risk management capabilities.

It is believed that with the continuous improvement of the regulatory system, Hong Kong's cryptocurrency market is expected to develop in a more stable and sustainable direction.

💬 What do you think of Hong Kong's possible strengthening of supervision of OTC cryptocurrency transactions? See you in the comments section!

#香港加密货币 #OTC交易 #监管加强 #金融市场 #加密货币监管
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🇭🇰 Can this East Asian rising star continue to lead the way in the cryptocurrency boom in Hong Kong? 🚀 Recently, Hong Kong's cryptocurrency market has soared like a rocket, with a year-on-year growth of up to 86%! Such a growth rate undoubtedly makes it a leader in the cryptocurrency field in East Asia and even the world. Chainalysis' report further confirms this. As the 30th largest cryptocurrency adopter in the world, Hong Kong's rapid growth trend highlights its status as a cryptocurrency hub and also indicates its potential to become a major player. Behind this growth is Hong Kong's relatively relaxed regulatory environment, which gives it an advantage over its neighbors in the cryptocurrency field. This open attitude has attracted many institutional and individual investors who want to make a big splash in the cryptocurrency field. Centralized exchanges (CEX) dominate the market by 2/3 of the turnover in the East Asian market. This shows that most investors still prefer to use these familiar CEX platforms to meet their trading needs. But this trend is gradually changing. Research shows that institutional investors are beginning to turn to decentralized exchanges (DEX) and decentralized financial platforms to find more efficient ways to utilize the market. This shows that big players are looking for new ways to address market inefficiencies, which is exactly the advantage of decentralized markets. Although Hong Kong has achieved significant growth in cryptocurrency usage, it also faces some challenges. For example, the Ethereum ETF approved by the US Securities and Exchange Commission may pose a threat to Hong Kong's competitiveness. In the face of such external changes, Hong Kong must continue to innovate and adapt to advance its leading position in East Asia and even the world. Therefore, in response to changes in domestic and foreign policies, Hong Kong needs to continuously enhance the competitiveness of its industry to maintain its leading position in East Asia. At the same time, innovation and clarity of the legal framework are also important challenges that Hong Kong needs to face. 🗣️ Do you think Hong Kong can continue to maintain its leading position in the cryptocurrency field? Will the future of cryptocurrency shape the financial landscape in East Asia and even the world? #香港加密货币 #东亚金融 #加密货币趋势
🇭🇰 Can this East Asian rising star continue to lead the way in the cryptocurrency boom in Hong Kong? 🚀

Recently, Hong Kong's cryptocurrency market has soared like a rocket, with a year-on-year growth of up to 86%! Such a growth rate undoubtedly makes it a leader in the cryptocurrency field in East Asia and even the world.

Chainalysis' report further confirms this. As the 30th largest cryptocurrency adopter in the world, Hong Kong's rapid growth trend highlights its status as a cryptocurrency hub and also indicates its potential to become a major player.

Behind this growth is Hong Kong's relatively relaxed regulatory environment, which gives it an advantage over its neighbors in the cryptocurrency field. This open attitude has attracted many institutional and individual investors who want to make a big splash in the cryptocurrency field.

Centralized exchanges (CEX) dominate the market by 2/3 of the turnover in the East Asian market. This shows that most investors still prefer to use these familiar CEX platforms to meet their trading needs.

But this trend is gradually changing. Research shows that institutional investors are beginning to turn to decentralized exchanges (DEX) and decentralized financial platforms to find more efficient ways to utilize the market. This shows that big players are looking for new ways to address market inefficiencies, which is exactly the advantage of decentralized markets.

Although Hong Kong has achieved significant growth in cryptocurrency usage, it also faces some challenges. For example, the Ethereum ETF approved by the US Securities and Exchange Commission may pose a threat to Hong Kong's competitiveness. In the face of such external changes, Hong Kong must continue to innovate and adapt to advance its leading position in East Asia and even the world.

Therefore, in response to changes in domestic and foreign policies, Hong Kong needs to continuously enhance the competitiveness of its industry to maintain its leading position in East Asia. At the same time, innovation and clarity of the legal framework are also important challenges that Hong Kong needs to face.

🗣️ Do you think Hong Kong can continue to maintain its leading position in the cryptocurrency field? Will the future of cryptocurrency shape the financial landscape in East Asia and even the world?

#香港加密货币 #东亚金融 #加密货币趋势
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